Japan’s Economic Assessment in Moderate Recovery

The Japanese government maintains its basic evaluation on domestic economy indicated in the monthly report for July, which will be released on Wednesday.

According to the Cabinet office, the economy of Japan is in a moderate recovery. In the previous month, the government increased its entire outlook for the first time after six months, underlining the advancement in business investment and private spending.

Nobuteru Ishihara, Economic and Fiscal Policy Minister, submitted the latest report to the economy’s ministerial meeting.

As indicated in the July report, the administration revised its content on producer prices assessment for the first time in 22 weeks, stating that the growth has recently slowed down. As the producer prices are said to be “rising moderately.”

Changes slightly caused a delay on the price increase in petroleum products because of the halt in price hike of crude oil, said by an official from the Cabinet Office.

Moreover, the government keep on hold its valuation on other sectors. While the household expenditure also rose moderately together with exports and capital investments.

The report further mentioned that the economy is projected to recover with an improved income growth and employment in the short-term.